Section 3: PAYMENTS 


3.1 Rent. Subject to Section 4.3(ii) and (iii) below, this Agreement is intended to be a net lease to Lessor whereby all
expenses related to the ownership, maintenance (whether mandatory or recommended) and operation of the Aircraft during the Term shall be borne by and passed through to Lessee, including but not limited to those set forth in Sections 4, 5 and 7
herein (collectively, the “Costs”). To the extent possible, Lessee shall arrange to have all Costs billed directly to Lessee. In the event Lessor receives any invoices or bills directly relating to the Costs, Lessor shall promptly
forward any such invoices or bills to Lessee and Lessee shall pay all invoices or bills by the later of the date on which the Costs are due or fifteen (15) days from receipt by Lessee of the invoice or bill from Lessor. In the event Lessor is
required to pay any Costs directly, Lessor shall invoice Lessee (accompanied with reasonably acceptable supporting information, e.g. paid receipt, invoice) and Lessee shall, subject to Section 4.3(ii) and (iii) below, reimburse Lessor for
such amounts within fifteen (15) days from the date of such invoice. In the event that the Aircraft is redelivered to Lessor after the expiration of the Term, Lessee shall pay to Lessor an additional charge of US$500 and continue to pay the
Aircraft expenses required to be paid by Lessee under the Agreement for each day that the return of the 


 

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